"Events, my dear boy, events" - Harold Macmillan
Gold is responding to an event last week that's slipped under the radar and the US establishment is playing down so as not to scare the inflationary horses.
Namely, the strike on the Francis Keys bridge in Baltimore.
Within an hour, the NTSB declared it an accident and ruled out foul play before commencing its investigation.
The container backlog and shipping congestion at Long Beach in '20-21 resulted in an inflationary spike to 9.1% in 2022.
This is far worse.
While Long Beach affected the consumer economy, Francis Keys will cause supply chain disruption in manufacturing, agriculture and transportation for an extended period
It will take 3-5 years to reconstruct the bridge.
The bridge lies on the main trucking arterial running from Florida to Canada and 1.5 million trucks use it every year.
Most are transporting gasoline/diesel and the alternative routes are few, tortuous and time consuming.
Open source also indicates that the US elite is petrified at the message that has just been conveyed:
Any attack henceforth on European underwater pipelines or Crimean bridges will be responded to with commensurate violence on critical infrastructure in the homeland.
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